UTA Fuels Expansion With Private Equity Investment From EQT

United Talent Agency has found a new investment capital partner.

A fund operated by private equity firm EQT Partners has made a strategic investment in UTA, in a deal the agency says “will help fuel the next phase of investments in talent, innovation and international expansion.”

EQT will become the largest outside shareholder in UTA through the deal, which will also see the Stockholm-based firm acquiring stakes from some of UTA’s existing investors, including Investcorp and PSP Investments. Specific terms of the deal, including its valuation, were not disclosed but UTA partnership and leadership will remain the controlling shareholders of the agency.

“EQT is the perfect partner for UTA’s next phase of growth. They have deep international capabilities, a strong balance sheet, and most importantly they truly appreciate and respect the culture that we have built at UTA,” said Jeremy Zimmer, CEO of UTA, who co-founded the agency in 1991 and has helped grow its talent representation across TV, film, music, sports, digital media, publishing, podcasts and more.

UTA has undergone a dramatic strategic expansion over the past few years, including the acquisition of UK-based publishing and talent agency The Curtis Brown Group this June and the purchase of MediaLink, a leading strategic advisory firm for entertainment and media companies, in December 2021. In 2019 UTA made a strategic investment in Klutch Sports Group. The number of employees at the company has almost doubled to nearly 1,900 employees during the past four years.

Kasper Knokgaard, EQT partner and global head of the company’s services sector team, said, “EQT invests in industry leading platforms that are well situated for strong and sustained growth across economic cycles, are aligned with our values, and where we know we can create significant value—UTA checks all the boxes. We are excited to partner with Jeremy Zimmer and the entire team to accelerate UTA’s growth trajectory and enable more opportunities across entertainment and media.”

The transaction is expected to close later this month. UTA was advised by MoelisMC
& Company (exclusive financial adviser), and Skadden Arps, Slate, Meagher & Flom LLP (legal). EQT Private Equity was advised by Weil, Gotshal & Manges (legal) and Bain & Company (commercial).